Homebuyers are willing to pay thousands of dollars more for the comfort of central air conditioning.
Zillow’s research found that staying cool is worth an average 2.5% to homebuyers amounting to a $5,500 premium for the median priced US home.
Those in San Antonio and Cincinnati are willing to pay the highest premium – 5.8% and 5.7% respectively – while those in Detroit, Indianapolis, and Las Vegas will pay 5% extra.
"Individual design preferences or decorating styles might deter buyers from certain homes, but there is a strong consensus in favor of air conditioning, although in the nation's fastest-moving markets, AC may weigh relatively low for buyers eager to find any home they can,” said Zillow Senior Economist Aaron Terrazas. “In historically more temperate climates, some homes – especially older ones – aren't as likely to have air conditioning. But in places where temperatures regularly reach triple digits, it's hard to find a home without air conditioning."
Previous Zillow research found that renters will pay an average of 2.8% more for a home with air conditioning, but the higher figure than for homebuyers may be because renters do not generally have the ability to add air conditioning at a later date.
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